Follow this Expert Following. 1  People understand what you mean - the suffering and decline takes a toll on the patient and the caregiver - both suffer. How long people with Parkinson's live depends a lot on age and general health. Please try to get some support for yourself and see a doctor for yourself. This long caregiving can cause depression, and that can usually be treated. Also, you likely need some respite care.
Normally, your contributions to a traditional IRA are tax deductible. You may contribute up to $5,000 each year or the amount of your earned income, whichever is less. The limit is $6,000 if you are age 50 or older.
Your adjusted gross income, which is your taxable income less any allowable deductions, is $250,000. To find the allowable amount of the expenses that you can pay using your IRA, first multiply your adjusted gross income, $250,000, by 7.5 percent -- or .075 on a calculator. The result is $18,750. Subtract $18,750 from $50,000, which equals $31,250.